UPDATE | GM announces robust 1Q earnings

DETROIT — General Motors Co. today announced record first-quarter earnings and revenue of $2.6 billion and $41.2 billion, respectively.

The records were driven by robust retail sales of full-size trucks and crossovers in the U.S., continued growth of GM Financial and effective cost performance around the globe, the automaker said.

Compared with the first quarter of 2016, GM said it's revenue was up 10.6 percent and its net income was up 33.5 percent.

GM said during a conference call with investors that it is focused on aligning its inventory levels with demand, which includes significantly reducing passenger car levels. The Lordstown-built Chevrolet Cruze is a passenger car.